Forget Zyn Nicotine Pouches, ZYN Meme Coin Is Making Hearts Race With 4,000% Gains
Portfolio Pulse from Khyathi Dalal
ZynCoin, a cryptocurrency inspired by Zyn Nicotine pouches, has seen a remarkable surge of over 4,000% in three weeks, reaching a market cap of $80 million. Available on Ethereum and Solana networks, it's gained traction as a 'culture coin' among social media traders and has been compared to other meme coins like Pepe. Despite its success, concerns about trademark and intellectual property issues loom. Mechanism Capital has invested $577,000 in ZynCoin, signaling confidence in its potential despite the risks associated with meme coins.
March 07, 2024 | 6:54 pm
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POSITIVE IMPACT
ZynCoin's availability on Ethereum could potentially increase transactions on the Ethereum network, possibly affecting ETH's demand and price.
The association of a rapidly growing meme coin like ZynCoin with Ethereum could lead to increased network transactions, potentially driving up demand and the price of ETH in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
With ZynCoin also available on Solana, this could similarly impact SOL's demand and price positively in the short term.
ZynCoin's performance and its availability on Solana may lead to increased usage of the Solana network, potentially boosting SOL's demand and its price in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70